3.27.2008

Banks Fail to Lower Mortgage Rates as Bernanke Cuts Money Costs

Lenders aren't helping the central bank even after they've been given seven interest rate cuts and a new program designed to jumpstart borrowing. Banks are defying Bernanke and hoarding cash after writing down the value of more than $200 billion of mortgage-related securities since July.


Yep, clearly market confidence is being restored.